Swiss National Bank Purchases 126,500 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Swiss National Bank increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFIFree Report) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,969,100 shares of the company’s stock after purchasing an additional 126,500 shares during the quarter. Swiss National Bank’s holdings in SoFi Technologies were worth $15,733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SOFI. Moneta Group Investment Advisors LLC purchased a new position in SoFi Technologies during the fourth quarter worth about $83,643,000. Norges Bank purchased a new position in SoFi Technologies in the fourth quarter valued at about $44,799,000. State Street Corp boosted its stake in SoFi Technologies by 76.6% in the second quarter. State Street Corp now owns 11,686,894 shares of the company’s stock valued at $61,590,000 after acquiring an additional 5,068,034 shares during the last quarter. Vanguard Group Inc. boosted its stake in SoFi Technologies by 7.8% in the third quarter. Vanguard Group Inc. now owns 66,808,733 shares of the company’s stock valued at $326,027,000 after acquiring an additional 4,846,633 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in SoFi Technologies in the second quarter valued at about $25,195,000. 37.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SoFi Technologies

In related news, CEO Anthony Noto purchased 22,500 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were purchased at an average price of $6.50 per share, with a total value of $146,250.00. Following the acquisition, the chief executive officer now directly owns 7,261,789 shares of the company’s stock, valued at $47,201,628.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $9.78, for a total value of $550,349.94. Following the completion of the sale, the chief technology officer now owns 343,250 shares of the company’s stock, valued at approximately $3,356,985. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Noto acquired 22,500 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was acquired at an average cost of $6.50 per share, with a total value of $146,250.00. Following the purchase, the chief executive officer now directly owns 7,261,789 shares in the company, valued at approximately $47,201,628.50. The disclosure for this purchase can be found here. Insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SOFI shares. Wedbush reiterated an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a research note on Thursday, November 9th. Mizuho lowered their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Citigroup lowered their price target on shares of SoFi Technologies from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, November 24th. Finally, Piper Sandler lowered their price target on shares of SoFi Technologies from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, November 17th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.78.

Check Out Our Latest Stock Report on SOFI

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $8.13 on Friday. The company’s fifty day moving average price is $8.50 and its 200-day moving average price is $8.24. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of -21.39 and a beta of 1.78. SoFi Technologies, Inc. has a one year low of $4.45 and a one year high of $11.70. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.52 and a quick ratio of 0.23.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last issued its quarterly earnings results on Monday, January 29th. The company reported $0.02 EPS for the quarter. The firm had revenue of $615.40 million for the quarter, compared to analyst estimates of $572.02 million. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.07 earnings per share for the current fiscal year.

SoFi Technologies Company Profile

(Free Report)

SoFi Technologies, Inc provides various financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money. It also offers personal loans, student loans, home loans, and related services.

See Also

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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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